VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Matthew Leo who wrote (88)	2/14/1997 11:52:00 AM
From: FMK	of 27311

Hi Matthew- Good summary, I agree on all points. Shifting full production expectations should reduce distracting communications with anxious investors and analysts, leaving more time to concentrate on the tasks at hand. A veteran of VLNC conf calls told me that it was by far the most positive he has heard, and concluded : "They have finally admitted that they are in the battery business!" Cal Reed emhpasized that for the joint ventures, VLNC will sell components at near cost, to the venture, and provide technical help but will have no cash outlay. In return, VLNC will share 50% of the profits. What a strong statement of the value of this technology! It appears to have set a precedent for more joint ventures, especially for penetration of Asian markets. I will restrain myself from doing a return-on-investment computation! I owed you a smile! Regards

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